Mortgage Qualifier ToolFrom Financial Consumer Agency of Canada
This calculator helps you determine whether or not you can qualify for a home mortgage based on income and expenses.
All insured homebuyers must qualify for a mortgage based on the highest interest rate of either:
- the interest rate in your mortgage contract
- the Bank of Canada’s conventional five-year fixed posted mortgage rate. As of October 5, 2016 the Bank of Canada’s conventional five-year fixed posted mortgage rate is 4.64%